Unilever sales stronger than expected in third quarter

Underlying sales rose 5.7% in the quarter as against analyst estimates of 3.9%

For the rest of the year, Unilever said it expected underlying sales to come in toward the upper end of the 2 to 4 per cent range

For the rest of the year, Unilever said it expected underlying sales to come in toward the upper end of the 2 to 4 per cent range

 

Consumer goods maker Unilever reported better than expected third-quarter sales on Thursday, but said sluggish markets globally continued to weigh on its performance.

“We continue to see soft global markets with no immediate sign of getting help from an improving global economy,” Unilever chief executive Paul Polman said in a statement.

In the third quarter, the Anglo-Dutch maker of Knorr soup, Lipton tea and Dove soap said underlying sales rose 5.7 per cent, citing benefits from soft comparisons in China, a strong summer ice cream season and the timing of sales in Latin America.

Analysts on average were expecting a rise of 3.9 per cent, according to a consensus compiled by the company.

For the rest of the year, Unilever said it expected underlying sales to come in toward the upper end of the 2 to 4 per cent range. It also expects steady improvement in core operating margin and strong cash flow.

Reuters